The number of people drawing social security benefits has tripled in the past 30 years to more than eight million, putting social security in danger. Together with the two million drawing extended unemployment benefits makes the need to create jobs critical, and increasing taxes is just the wrong way to accomplish this. Somebody must work, even if for minimum wages, to pay those who are not working.
Too late now, but Mitt Romney had a plan that would have almost painlessly reduced spending the first year by half a trillion dollars and by the second year would have balanced the budget and created jobs. The nation is near to falling off a "cliff" where more people will be depending on money from the government than are working and paying taxes. That will be disaster.